Too Big to Save? How to Fix the U.S. Financial SystemISBN: 978-0-470-49905-4
Hardcover
480 pages
November 2009
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—Tyler Cowen/ September 2009, http://www.marginalrevolution.com
"Should be required reading on Capitol Hill."
—Kevin Hall, McClatchy Newspapers
"Pozen’s book offers significantly more than a factual
recitation of events leading up to and during the credit crisis.
Beyond that, it offers a comprehensive framework for analysis and
concrete proposals for appropriate regulatory responses. Broadly,
Pozen’s aim is not – or not only – to tell the
story of the crisis, but rather to analyze how the crisis can
illuminate and inform the appropriate relationship between
government and financial markets. Pozen describes specific
regulatory innovations intended to keep pace with the speed and
complexity of financial innovation. He offers, that is, the
analysis sorely lacking in more journalistic accounts of the
crisis. In that regard, his book is one of the few in the growing
literature arising out of the crisis that should inform any serious
discussion of new financial regulation."
—Alisa Greenstein, The Hedge Fund Law Report, October
2009
"Pozen seems to be right (or at least in broad agreement with
me) the overwhelming majority of the time. And as you can also see,
he makes a lot of recommendations, on everything from
accounting standards to insurance regulation. Tyler Cowen is quite
right to give the book a rave review."
—Felix Salmon, blogs.reuters.com/felix-salmon,
November 2009
"This is a book for investors who want to understand the details of our financial landscape, and who also want to consider arguments on restricting mortgage-lending practices, whether financial derivatives and hedge funds should be regulated or the revival of loan securitization, among others." (SmartMoney, November 2009)
“There has not been a more timely and important book
written this decade. … In summary, Too Big to Save is
comprehensive, rigorous, and descriptive as well as prescriptive.
The US economy is too important a global player to be ignored, and
Pozen’s analysis in ‘Too Big Too Save’ is too
important to not be read. This book is truly a gem and a strongly
recommended read.”
—Sean Cameron, The Harvard Law School Forum on Corporate
Governance and Financial Regulation ( http://blogs.law.harvard.edu/corpgov
, November 2009
“The best finance book I've read so far this year (and I've read a slew of them) is Robert C. Pozen's Too Big to Save? How to Fix the U.S. Financial System. … I can't think of anybody who has covered such a range of issues so efficiently or so well.” (Brad DeLong, ( http://delong.typepad.com, November 2009
"TOO BIG TO SAVE? asks and answers the questions
weighing on every American's mind...a highly readable and
well-paced narrative...a valuable guide to a wide audience of
readers, from American voters who felt disenfranchised by the
events of September 2008 and are looking for an accessible resource
to further inform their perspective, to professionals who seek a
single source for an engaging account of the crisis and its
implications for businesses today and tomorrow."
—Elizabeth Leonard, Forbes.com, December 2009
"University economists are already teaching courses on the
history of the financial crisis of 2008 and the policy responses
that followed. Robert Pozen's new book could become required
reading."
—Ross Kerber, Reuters, December 2009
"To command the weary reviewer’s attention, any new book
on the aberrations of the financial community has to have a clear
focus and make a compelling case. In Too Big To Save? Robert
Pozen, chairman of mutual fund group MFS Investment Management and
a former vice-chairman of Fidelity Investments, pulls off the
trick. … The story of excessive risk-taking and leverage is
lucidly told and accessible to the layman, with good explanations
of securitisation, toxic structured products and the global
dimension of the crisis. The policy recommendations are thoughtful
and mostly full of good sense."
— John Plender, Financial Times, February 2010
"The first thing one can see from the book is how much of a
genius Robert Pozen is. He has a clear grasp on many complex issues
facing the US and world economy. Too Big to Save? is
probably the best book about financial reform written so
far."
—Jacob Wolinksy, GuruFocus.com, February 2010
"... thorough, intelligent and straightforward ..."
—Jim McTague, Barron's, March 2010
"While there are many books on the financial crisis, too many of
them say too much about what went wrong and not enough about how to
fix the problem. Bob Pozen's book Too Big to
Save? (Wiley, 2009) breaks the mold. It not only analyzes
the causes of the crisis with uncommon clarity, but also supplies a
compelling road map for reform."
—Stephen J. Hadley, Harvard Business Review, March 2010
"If you’re only going to read one book on the financial
crisis, this should be the one."
— Matthew Rees, The American, May 2010